Graduate Certificate in Real Estate Development
Dramatic changes in the real estate industry over the past decade require an advanced set of interdisciplinary skills for commercial and residential real estate practitioners in the private, public, and non-profit sectors. The Graduate Certificate in Real Estate Development has been designed to build the technical and analytical knowledge of those who wish to enter the industry or to further develop the skills of industry professionals.
Courses within the Certificate program are taught by faculty from the School of Urban Studies and Planning, and the School of Business Administration. Classes combine theoretical, empirical, and case studies methods, and involve assistance from the Portland metropolitan area real estate industry professionals. All required classes are taught during evening hours to accommodate the demands of working professionals, as well as full-time students.
Electives: 9 credits
(Choose at least one course from Group 1, your second and third electives can come from Group 1 or Group 2)
Group 1 (Advanced Development Finance):
RE 522 Real Estate Finance II (4)
RE 562 Real Estate Development Workshop (4)
USP 579 State and Local Public Finance (3)
USP 596 Affordable Housing Finance (3)
Group 2 (Other Electives):
USP 517 Urban Economic Development Policy (3)
USP 524 Site Planning (3)
USP 526 Neighborhood Conservation and Change (4)
USP 527 Downtown Revitalization (3)
USP 529 Green Buildings I (3)
RE/USP 538 Real Estate Law (3)
USP 542 Land Use Implementation (3)
USP 551 Community Economic Development (3)
USP 555 Land Use: Legal Aspects (3)
USP 563 Real Estate Construction (3)
USP 567 Urban Housing Policies (3)
USP 569 Sustainable cities and Regions (4)
USP 570 Transportation and Land Use (3)
USP 572 Regional Economic Development (3)
USP 578/678 Impact Assessment (3)
USP 584 Negotiations in the Public Sector (4)
USP 588 Sustainable Development Practices (3)
USP 590 Green Economics and Sustainable Development (3)
USP 619 Development Partnerships (3)
USP 624 Project Design (3)
USP 625 Green Buildings II (3)
RE 548 Real Estate Market Analysis (3)
RE 573 Housing Economics (4)
FIN 512 Economic & Sustainability of the Firm II (4 credits)
FIN 539 Real Estate Valuation I (3)
FIN 552 Investments (4)
FIN 553 Financial Analysis & Business Valuation (4)
FIN 559 Advanced Real Estate Valuation (3)
The program can be completed in a single year on a full-time basis or over two years on a part-time basis. Courses have been scheduled so that students can complete a certificate in the academic year on a September-to-June basis. However, students can begin taking real estate courses in any quarter.
|USP 523 Real Estate Developement I
||USP 612 Community, Planning, & Ethics
||USP 542 Real Estate
|RE 562 Real Estate Development Workshop or Elective
|RE 521 Real Estate
|RE 522 Real Estate
Finance II or Elective
|USP 596 Affordable Housing
Finance or Elective
RE 521 Real Estate Finance I (4) - Introduces business finance within the context of commercial real estate. Concepts and techniques will include financial statements, analysis, and forecasting; present value and discounted cash flow analysis, an introduction to real estate valuation measurements; and analysis of performance risk versus return. Students also receive an overview of the legal definitions of real estate terminology, including title, contract, regulation, and financing issues, and case studies in real estate development. Recommended prerequisites: Ec 201 and 202. Syllabus.
RE 522 Real Estate Finance II (4) - Application of finance and economic principles to analysis of real estate finance and investments. Emphasis on the development of problemsolving capabilities through the use of compter application programs. Special attention given to risk analysis, alternative mortgage instruments, hedging techniques, and the tax effects of real estate investment. Prerequisite: RE 521 or equivalent.
USP 523 Real Estate Development I (4) - This course evaluates the new public/private partnerships that are necessary for downtown redevelopment, historic rehabilitation, integrated mixed-use urban centers, urban villages, and new communities. Students will analyze the critical conceptual, feasibility, and deal-making phases of the development process, as well as the development and management stages. The course examines the new affirmative roles played by both public and private developers, as well as unusual joint development entities. Also considered are innovative concepts of incremental growth, land and development banking, shared parking, and alternative development patterns. Prerequisites for undergraduates: USP 515 or RE 521 or equivalent.
USP 546 Real Estate Development II (4) - This class will provide students the experience of developing a comprehensive and unified analysis of a commercial real estate project. Each student will submit a case study with greater specificity showing how the design, development, market, finance, construction, and management of the project is integrated. A select number of projects in the greater Portland area will be analyzed as case studies. Students will work closely with industry participants and faculty to develop their analysis as well as alternative strategies for the project at critical stages of its development. Prerequisite: USP 523 Real Estate Development I.
USP 612 Community, Planning, and Ethics (3) - An introduction to the history and theory of community development in North America, the theory and practice of urban planning in North America, and to the ethics of civic and business practices linking the public, private, and nonprofit sectors. The course will focus on plans as the outcome of political processes with specific consequences for different constituencies within the city. Syllabus.
RE 573 Housing Economics (4) - This course looks at the economics of real estate and housing, including land rent, interest rates, apartment rents and housing prices, using an economic framework. Basic concepts in urban economics such as land rents, externalities, and public goods are reviewed. Explores the technique most commonly used in real estate and housing economics: hedonic pricing. Explores the rationale and impact of government intervention in the private real estate market. Prerequisite: USP 515 or RE 521 or undergraduate course in economics.
Elective Graduate Courses
The electives in the Program enable the students to build particular skills from the wide selection of courses offered by both Schools of Urban Studies and Planning and the School of Business Administration. Course descriptions for the electives appear in the University Bulletin. Students must choose at least one elective course from the Urban Policy and Processes group to insure a broader understanding of planning and development in an urban setting.
Course Overlap Between Degrees and Certificates
Graduate courses can be applied to a master’s (or a doctoral) degree and a graduate certificate. However, graduate courses cannot be applied to two graduate certificates. See PSU Bulletin for more course overlap information.